The Euro to US Dollar (EUR/USD) exchange rate firmed from its
lowest level in 11-years on Monday as economist speculate that Syriza’s
Greek election victory would not be a threat to the wider Eurozone.
The Troika of lenders that bailed out Greece includes the European Union (EU), European Central Bank (ECB), and International Monetary Fund (IMF) – imposed big budgetary cuts and restructuring in return for the money. The austerity messages imposed on the nation led to unemployment soaring to more than 25%.
‘The new Greek government will be ready to co-operate and negotiate for the first time with our peers a just, mutually beneficial and viable solution. The troika for Greece is the thing of the past,’ Mr Tsipras said.
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The Euro to US Dollar exchange rate hit a session high of 1.126
Hopes that a compromise will be reached between Greece’s new Prime Minister Alexis Tsipras and the Troika over austerity and bailout terms led to the Euro shaking off earlier losses and rally against the majority of its most traded peers.The Troika of lenders that bailed out Greece includes the European Union (EU), European Central Bank (ECB), and International Monetary Fund (IMF) – imposed big budgetary cuts and restructuring in return for the money. The austerity messages imposed on the nation led to unemployment soaring to more than 25%.
‘The new Greek government will be ready to co-operate and negotiate for the first time with our peers a just, mutually beneficial and viable solution. The troika for Greece is the thing of the past,’ Mr Tsipras said.
Read more Click here / www.trade4x.net
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